Credisson and Domenia invest to expand

Credisson and Domenia Credit, two of the biggest non-banking financial companies, anticipated that operating conditions on the market would toughen once the NBR”s jurisdiction over this market was introduced, and significantly increased their share capital. Credisson did this by adding non-distributed profits worth 5.5 million euros to its capital, bringing its total to 6.4 million euros, while Domenia upped it by 2.5 million dollars to 7.5 million dollars. Since April 2005, consumer lender Credisson has been controlled by Cetelem – the consumer finance division of the biggest French banking group BNP Paribas. The lender will change its name to Cetelem Romania this spring and become a branch of the group. This will also solve the issue of the mandatory shift from a limited-liability company to a joint-stock company, as required by a recent governmental ordinance regulating the activity of non-banking financial institutions. ZF